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of americans who think congress will negotiate a deal on the fiscal cliff. that's not all, holiday spending also hit its lowest rate since the 2008 recession, which retailers are blaming on the uncertainty in washington. so where do we go from here? well, since the house failed to get a vote on the tax package last week, all eyes are on the senate. a temporary deal that would basically extend all the tax cuts for those making under a quarter million. the deal would also rescue long-term unemployment benefits and instead of addressing those automatic spending cuts we've all heard about that are set for january 1st, this temporary deal would delay them for another six months. few are optimistic this new plan, if we do go over the clifr, would work out. so what would half if we go over the cliff? the payroll tax holiday will expire on new year's day. that means most people will start paying more taxes in each paycheck. another 21 million americans would lose federal emergency unemployment benefits and those, let's remember, are people struggling the most right now. across the entire economy go
't want to go into the second term, january with the fiscal cliff looming and dealing with the cpi or, you know, raising the medicare eligibility. doesn't want the discussions to cloud up his other agenda, rest of his agenda, things like immigration. gun control if that does survive into the new year. so -- right now looking at some of the things that have been floated -- that -- that harvard from reported basically that's the president getting stimulus aspects of it. the payroll taxes is going away. making sure that -- things like unemployment insurance, huge stimulus for the economy, one of the highest multipliers, if that was gone we would have -- you know, we would be dumping back into another recession the president is a fan of abraham lincoln but creating a civil war is hyperbolic even for charles krauthammer. where is that guy? can we sign him up? where is he lurking now? the reality is this man has been willing to compromise to the chagrin of those progressives on and on the left so much of the political capital he's generated as a result of his re-election, again, in deference to
of the huffington post. partisan ranker and frustration all around, we've arrived at the fiscal cliff. the senate, which was expected to hold an up and down vote on a final bare bones budget deal last night wasn't quite able to make it happen. harry reid gave us problem or lack thereof. >> there are two sides still apart, and negotiations are continuing as i speak. there's still more before we can bring ledges laying to the floor. what else is new? can anyone save this congress from itself? turns out the new man responsible is vice president joe biden. yep. that's right. joe biden is the latest person to be called on to try to get congress out of the straight jacket they've put themselves in. the vp and senate minority leader mitch mcconnell exchanged phone calls until midnight last night and again this morning, and appeared to be zeroing in on a tax rate compromise in the region of a $450,000 to $550,000 threshold. a higher rate than the president's earlier compromise as well as an agreement on the estate tax. sticking points remain. president obama seemed resigned to going over the cliff. >> if
cliff drama is that mitch mcconnell is up in 2014. and to have his fingerprints on any deal at this juncture would probably invite a lot of hows if not a primary challenge whether or not that's successful. the bigger story here is the disintegration of any party institutions. in the past, the center of congressional campaign committees would probably be able to keep it at bay, use their resources, use their money to elevate the more moderate party minded politicians. nowadays, they've attributed a lot of that to these tea party groups. they say this person is not leading up to the conservative credentials. therefore, he they need to be plucked off. that is hampering a lot of legislative activity right now. >> and i think it's both issues here playing against the tea party. the style clearly isn't working. but i think once we get over the fiscal cliff, i think that 2013 is going to be a big policy issue. and i think that the idealogical conflict within the republican party is they have no economic policy answers to the problems of the day, to the shrinking middle class. the t
Search Results 0 to 3 of about 4